Bloomberg Businessweek

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.As President Vladimir Putin’s war on Ukraine enters a fourth winter, Russians are having to come to grips with its growing impact on nearly every aspect of their daily lives.Dozens of regions in central and southern Russia are now feeling the war’s proximity as drones and sometimes missiles hit energy sites and residential buildings. Air raid sirens wail almost every night, offering a constant — and very public — reminder of how the conflict is encroaching.Beyond the front lines, the rest of Russia, Moscow included, has started to feel the economic toll. From households cutting back on food spending to struggling steel, mining and energy companies, the country’s economic engine is showing multiple fractures, and the earlier resilience spurred by massive fiscal stimulus and record energy revenues is being tested.The degree of suffering is incomparable to that of Ukraine, and is in any case unlikely to prompt Putin to end the war, yet it underlines the ever-higher cost being extracted for his decision to launch the all-out invasion in February 2022.The fallout is hitting just as the US applies pressure to curb oil and gas revenue flowing to Moscow as part of the Trump administration’s flurry of activity aimed at reaching a ceasefire. Momentum for a deal is growing, with talks shifting to Moscow and US-Russian negotiations known to have been working behind the scenes on a package that would give Kremlin the sanctions relief it wants.Today's show features: Elise Giuliano, Senior Lecturer in Political Science at Columbia University, on whether the US can ultimately get Russia and Ukraine to agree to peace terms as US presidential envoy Steve Witkoff prepares to visit Moscow Bloomberg Economics US and Canada Economist Stuart Paul and Claudia Sahm, Chief Economist for New Century Advisors on Wednesday’s jobless data, the US consumer and the Federal Reserve Beige Book Bloomberg Boston Bureau Chief Brooke Sutherland on the latest earnings from Deere, and why its downbeat 2026 forecast is an indicator of broader economic uncertainty Max Wasserman, Founder and Senior Portfolio Manager of Miramar Capital, on potential concentration risk and over-reliance on AI and technology stocks for returns See omnystudio.com/listener for privacy information.

A new HSBC report launched in collaboration with Know Your Value called "The Giving Shift: Global Living, Local Giving," shows a powerful transformation in how women across the US are building wealth and giving back. Moving away from performative, prestige-driven philanthropy, this new generation of women is ushering in a personal, grounded approach to giving—one rooted incommunity, family, and tangible impact. Racquel Oden, HSBC's US Head of International Wealth and Private Banking, discusses the report's findings as well as the recent shift in sentiment among some private market investors. Racquel speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.See omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.White House National Economic Council Director Kevin Hassett is seen by advisers and allies of President Donald Trump as the frontrunner to be the next Federal Reserve chair, according to people familiar with the matter, as the search for a new central bank leader enters its final weeks.With Hassett, Trump would have a close ally whom the president knows well and trusts installed at the independent central bank, the people said, speaking on the condition of anonymity. Hassett is seen as someone who would bring the president’s approach to interest-rate cutting to the Fed, which Trump has long wanted to control, some of the people said.Still, Trump is known to make surprise personnel and policy decisions, meaning a nomination is not final until it’s made public, they said.White House Press Secretary Karoline Leavitt in a statement said, “nobody actually knows what President Trump will do until he does it. Stay tuned!”Fed chair and governor picks are historically the most direct way a president can influence the central bank. Trump nominated current Chair Jerome Powell during his first term. He came to regret the decision when Powell didn’t push for lower interest rates at the pace Trump wanted.Today's show features: Stuart Kaiser, Head of US Equity Trading Strategy at Citi, on the tug-of-war between market momentum and seasonal trends Bloomberg News Big Tech Team Leader Sarah Frier on Google’s major leap forward in the global AI race Bloomberg Economics Chief Geoeconomics Analyst Jennifer Welch on the latest White House optimism around efforts to negotiate a peace deal between Ukraine and Russia, and whether there is hope for a lasting US-China trade truce Jennifer Ewbank, Founder of Andaman Strategic Advisors, on the recent cyber-attack on the Congressional Budget Office, and the risks of broader cyber-warfare with China Ryan Kelley, Chief Investment Officer and Portfolio Manager at Hennessy Funds, on investment opportunities in small- and mid-cap stocks See omnystudio.com/listener for privacy information.

Upwork (Nasdaq: UPWK) last week outlined its long-term growth strategy and financial outlook at its 2025 Investor Day. Upwork President and CEO Hayden Brown, CFO Erica Gessert, and other executives detailed how the company has fundamentally rewired its business over the last three years and is leading the reinvention of flexible work in the AI era. The company also unveiled its full year 2026 guidance and 2028 growth targets, seeing itself as well-positioned to capture a greater share of the $1.3 trillion global digital knowledge work market.Erica details Upwork's playbook for durable and profitable growth with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.See omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.US President Donald Trump and Chinese President Xi Jinping on Monday held their first talks since agreeing to a tariff truce last month, discussing trade, Taiwan and Russia’s invasion of Ukraine. Trump said the telephone call was “very good” and that the leaders spoke about purchases of soybeans and other farm products as well as curbing shipments of illegal fentanyl. The US president said he agreed to visit Beijing in April, and that he had invited Xi for a state visit next year.“Our relationship with China is extremely strong!” Trump posted on social media. “There has been significant progress on both sides in keeping our agreements current and accurate. Now we can set our sights on the big picture.”But the US president’s readout of the call sidestepped one issue — the self-governing island of Taiwan — that was a central focus for Xi. The Chinese leader told Trump that the return of Taiwan to China is a key part of the post-World War II international order, according to a Chinese Foreign Ministry statement. Xi also said the two countries should keep the positive momentum generated during their meeting last month in South Korea and expand cooperation, the statement said.The leaders also spoke about Russia’s invasion of Ukraine and Xi expressed hope for the two sides to reach a binding peace agreement, the ministry said. The call lasted an hour, White House Press Secretary Karoline Leavitt told reporters.Today's show features: Bloomberg News Senior Editor for Technology & Strategic Industries Michael Shepard on the latest White House headlines as peace plans for Ukraine continue to stall, President Trump speaks with China’s Xi Jinping and the US continues to spar with the EU over tariffs. Jennifer Lee, Senior Economist and Managing Director of Economics at BMO Capital Markets, on expectations for this week’s late-arriving PPI and retail sales reports from September Bloomberg Intelligence Senior Technology Credit Analyst Robert Schiffman on Oracle investor scrutiny amid a debt spree to finance artificial intelligence investments Leo Kelly, CEO of Verdence Capital Advisors, on markets and the Federal Reserve’s path forward See omnystudio.com/listener for privacy information.

Frank Sorrentino III is Chairman and CEO of ConnectOne Bank (CNOB), which has banking offices across New Jersey, New York and South Florida. Mr. Sorrentino and other Bergen County civic and business leaders founded the bank to serve local residents and businesses by providing personalized community banking services. Mr. Sorrentino is responsible for the firm's business development plan, while also serving as its community liaison, and sitting on the loan committee. Sorrentino offers his take on the strength of the community banking sector, as well as the direction of US monetary policy in the near-term. Frank speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.See omnystudio.com/listener for privacy information.

Featuring some of our favorite conversations of the week from our daily radio show "Bloomberg Businessweek Daily."Hosted by Carol Massar and Tim StenovecHear the show live at 2PM ET on WBBR 1130 AM New York, Bloomberg 92.9 FM Boston, WDCH 99.1 FM in Washington D.C. Metro, Sirius/XM channel 121, on the Bloomberg Business App, Radio.com, the iHeartRadio app and at Bloomberg.com/audio.You can also watch Bloomberg Businessweek on YouTube - just search for Bloomberg Global News.Like us at Bloomberg Radio on Facebook and follow us on Twitter @carolmassar @timsteno and @BWSee omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump said he wants to see Zohran Mamdani succeed, saying after a highly anticipated sit-down that he’d “feel very comfortable” living in a New York run by the mayor-elect and that he doesn’t anticipate cutting off funding for the country’s most populous city.“I expect to be helping him, not hurting him,” Trump said of Mamdani in a press conference that repeatedly stressed the two politicians’ political alignment over cost-of-living issues. “I want New York City to be great.”The meeting was the first between the two leaders who have clashed publicly over their political agendas but are seeking to determine if they can work together. Their talks held high stakes for the governance of the capital of global finance and for their respective political parties ahead of next year’s midterm elections.During the mayoral election, Trump repeatedly assailed Mamdani — a democratic socialist who won on a progressive platform — as a “communist,” urging voters to reject his candidacy and threating to pull government funding from New York, the president’s hometown. Republicans have also eagerly sought to turn Mamdani into a foil for Democratic policies with voters well beyond the city.On Friday, the two men appeared cordial and friendly, with Trump shrugging off questions about Mamdani’s prior references to the president as a “despot” as “not that insulting.” They told reporters that they spent the majority of their meeting discussing the cost of rent, groceries and utilities. The president also said he shared some of Mamdani’s ideas on how to address affordability.Today's show features: Bloomberg News White House and National Security Editor Michelle Jamrisko on President Donald Trump’s White House meeting with New York City Mayor-elect Zohran Mamdani Sarah Levy, CEO of Betterment, and Bloomberg News Senior Editor, Equities Americas Eric Weiner recap the volatile week in markets and react to President Trump’s meeting with NYC Mayor-elect Zohran Mamdani Christina Cassotis, Chief Executive Officer of the Pittsburgh International Airport, on the opening of the airport’s new terminal and preparations for holiday travel amid lingering effects from the government shutdown See omnystudio.com/listener for privacy information.

Hugh Herr is a driving force behind the creation of bionic limbs that emulate the function of natural limbs. His revolutionary work is in the emerging field of "Biomechatronics," a technology that marries human physiology with electromechanics. A double amputee himself, he is responsible for breakthrough advances in bionic limbs that provide greater mobility and new hope to those with physical disabilities. He currently serves as a Professor of Media Arts and Sciences at the MIT Media Lab, and co-leads the Yang Center for Bionics at MIT.Among the key aspects of the work being done at MIT is designing prosthetics that are specifically tailored to women's bodies. Dr. Herr explains how his team is meeting the needs of female patients in an area where the focus has traditionally been on the male anatomy. He speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.See omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.Blue Owl Capital Inc.’s Craig Packer has been something of a mainstay on the New York Stock Exchange in recent years, ringing the opening bell multiple times to toast the private credit giant’s public funds.On Wednesday, minutes after the market opened, his mood was anything but celebratory.Blue Owl had just announced it was scrapping a planned merger of two of its private credit funds, backtracking on a plan revealed Nov. 5 after scrutiny arose over the potential losses some investors would have to swallow as part of the deal. The parent company’s shares had fallen this week to the lowest level since 2023.Packer bemoaned “negative articles” about private credit that caused its stock to sink. When it comes to Blue Owl’s business development companies, the firm’s co-founder said on CNBC, “there’s no emergency here.”The abrupt reversal is a rare egg-on-face moment for Blue Owl, which for years has been held up as the poster child of the boom times in the $1.7 trillion private credit market. Created as a merger between Owl Rock Capital and Dyal Capital Partners in 2021, it has pitched itself as a one-stop financing shop that can compete with banks and the biggest alternative asset managers.Today's show features: Bloomberg News Chief Correspondent for Private Capital Davide Scigliuzzo and Chief Wall Street Correspondent Sridhar Natarajan on the fallout from Blue Owl’s scrapped private-credit fund merger, and whether it portends further credit market pain Abby Roach, Senior Portfolio Analyst for the Empiric LT Equity Team with Allspring Global Investments, on quarterly earnings from Walmart and the outlook for the US consumer Lane Bess, CEO of Deep Instinct, Chairman of Blaize, and former CEO of Palo Alto Networks, on Nvidia’s impact on the broader market for semiconductors Brent Schutte, CIO at Northwestern Mutual Management, on the lack of timely government data contributing to uncertainty about the state of the US. economy See omnystudio.com/listener for privacy information.

BioRender is a leading AI-powered platform for scientific communication. It is designed to bridge communication gaps across specialties, roles, and decision-makers that slow scientific discovery. By combining figure creation, presentations, graphing, analysis, and collaborative whiteboarding, it reduces the need for fragmented design and illustration tools, meeting minutes, and personal notepads. Co-founded out of Y Combinator by Shiz Aoki in 2017, BioRender says it has become the most widely used visual communication platform in science and healthcare for accurate images, claiming to be deployed at every major research university, 90% of the largest pharmaceutical companies globally, as well as 15 Nobel Prize-winning labs. The company also recently signed a collaboration with Anthropic as part of the "Claude for Life Sciences" initiative, and has reached a value of nearly $1 billion. Shiz discusses her company's growth and key partnership with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.See omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.Nvidia Corp., the world’s most valuable company, gave a strong revenue forecast for the current period, helping counter concern that a global surge in AI spending is poised to fizzle.Sales will be about $65 billion in the fiscal fourth quarter, which runs through January, the chipmaker said in a statement Wednesday. Analysts had estimated $62 billion on average, with some predictions ranging as high as $75 billion. The outlook signals that demand remains strong for Nvidia’s artificial intelligence accelerators, the pricey and powerful chips used to develop AI models. Nvidia has faced growing fears that the runaway spending on such equipment isn’t sustainable.Huang has repeatedly downplayed concerns about an AI bubble, saying last month that the company has more than $500 billion of revenue coming over the next few quarters. Owners of large data centers will continue to spend on new gear because AI has begun to pay off, he said.Today's show features: Jay Goldberg, Senior Analyst, Semiconductors & Electronics with Seaport Research Partners, breaks down Nvidia’s latest earnings report Bloomberg Tech Co-Host Ed Ludlow reacts to Nvidia’s results and previews his upcoming conversation with CEO Jensen Huang Bloomberg News Big Tech Team Leader Sarah Frier on the impact of Nvidia’s results on the broader outlook for AI spending Samuel Sahn, Managing Partner, Portfolio Manager at Hazelview Investments, on his firm’s new white paper detailing is how AI is reshaping asset values, operational models, and investment strategies See omnystudio.com/listener for privacy information.

Farmgirl Flowers was launched back in 2010 as a one-woman-show when founder and CEO Christina Stembel began working from her dining room table with a vision to change the way people buy flowers online. Her company says its burlap-wrapped bouquets and vase arrangements are "designed to make recipients feel seen, loved, and celebrated."Now as the company celebrates its 15th anniversary, its leader is doubling down on her commitment to build for growth rather than building to sell. Christina discusses the outlook for her firm, as well as the challenges facing the small business in the current economic environment with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.See omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.A selloff in the world’s largest technology companies drove stocks to their longest slide since August, underscoring the American market’s narrow reliance on a handful of growth giants.The S&P 500 lost almost 1%, falling for a fourth straight day. In the run-up to Nvidia Corp.’s results, the shares sank 2.8%. The bar is getting higher for the chipmaker to convince investors that the billions of dollars spent on artificial intelligence will pay off. Its outlook could have significant implications due to the firm’s massive influence on major indexes.Wall Street has grown increasingly concerned that AI isn’t yet generating enough revenue or profits to justify the massive spending on infrastructure. Microsoft Corp. and Nvidia are committing to invest up to a combined $15 billion in Anthropic PBC, in a move that ties the AI developer closer to two of the biggest backers for its rival OpenAI.The S&P 500 dropped to around 6,617, the lowest in more than a month. A gauge of tech megacaps slid 1.8%. A closely watched index of stock volatility — the VIX — hovered near 25.Bitcoin climbed after briefly dropping below $90,000. The yield on 10-year Treasuries slid two basis points to 4.12%. The dollar wavered.Today's show features: Vance Howard, CEO & Portfolio Manager, Howard Capital Management, on market valuation and AI bubble concerns Ellen Wald, President of Transversal Consulting and Senior Fellow at the Atlantic Council, on Saudi Crown Prince Mohammed bin Salman’s White House visit with President Donald Trump Dr. Adam Posen, President of the Peterson Institute for International Economics, on the global economic outlook and the US monetary policy impact Stephanie Guild, Chief Investment Officer at Robinhood Markets, on the makeup of next-gen retail investors and key trends among female investors who are increasingly coming into greater wealth See omnystudio.com/listener for privacy information.

Sally Beauty Holdings, Inc. (NYSE:SBH) is a global distributor and retailer of professional beauty products with revenues of $3.7 billion annually. Through the Sally Beauty Supply and Beauty Systems Group businesses, the company sells and distributes through over 4,000 stores, including approximately 132 franchised units, throughout the United States and Puerto Rico, the United Kingdom, Belgium, Chile, France, Canada, Mexico, Ireland, the Netherlands and Germany.Denise Paulonis has served on the firm's board of directors since May 2018 and was appointed President and Chief Executive Officer in October 2021. She joins to break down her company’s latest quarterly earnings report and examine the health of the American consumer with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.See omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.Wall Street traders gearing up for Nvidia Corp.’s earnings and the jobs report shunned riskier assets as both events will be key in shaping the global financial outlook throughout the rest of 2025.Just days ahead of tests of the two main pillars of the bull market — prospects for artificial intelligence and Federal Reserve rate cuts — equities fell alongside crypto. The S&P 500 lost over 1% — breaching a technical level seen by many as a gateway to a deeper pullback. The gauge is set to snap 138 sessions during which it held above its 50-day moving average — its second-longest stretch this century.Nvidia’s report Wednesday will come out amid investor uneasiness about stratospheric AI valuations even though the chipmaker is widely expected to deliver another earnings beat. Options traders are pricing in a 6.5% swing in either direction for the stock, which would be the highest implied move in a year.Then there’s the September jobs report, which will be released Thursday after a delay due to the US shutdown. Fed Vice Chair Philip Jefferson said he sees risks to the labor market as skewed to the downside, but warned policymakers need to proceed slowly.Scrutiny of Walmart Inc. and Target Corp. results will also be heightened as investors seek clues on consumer appetite and the broader economy. More than 400 shares in the S&P 500 fell, with the gauge hovering near 6,650. Nvidia slipped as Peter Thiel’s hedge fund Thiel Macro LLC sold off its entire stake in the chipmaker last quarter. Alphabet Inc. climbed as Warren Buffett’s Berkshire Hathaway Inc. built a $4.9 billion stake in the third quarter.Today's show features: R.C. “Chris” Whalen, Chairman, of Whalen Global Advisors, on the US economic and monetary policy outlook Aaron Jagdfeld, Chairman, President and CEO of Generac, on the company's most recent earnings and the health of the American power grid Laura Chambers, Chief Executive Officer of Mozilla Corporation on the growing presence of AI in our day-to-day web browsing experience and Internet and data privacy challenges Sevasti Balafas, Founder and CEO at GoalVest Advisory on investing strategies amid macro uncertainty See omnystudio.com/listener for privacy information.

Webflow is an AI-native Website Experience Platform that empowers teams to visually build, manage, and optimize websites that offer both the consumer experience customers expect and the enterprise-grade performance and scale they need. Webflow aims to give users full control over their websites without reliance on engineering, with big-name customers including NCR, Dropbox, Spotify and DocuSign.Linda Tong, the CEO of Webflow, explains why she sees the web actively splitting into two versions - one for us and one for AI bots, and how companies are adapting and will continue to adapt to maintain traffic to their websites. Linda speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.See omnystudio.com/listener for privacy information.

Featuring some of our favorite conversations of the week from our daily radio show “Bloomberg Businessweek Daily.” Hosted by Carol Massar and Tim Stenovec Hear the show live at 2PM ET on WBBR 1130 AM New York, Bloomberg 92.9 FM Boston, WDCH 99.1 FM in Washington D.C. Metro, Sirius/XM channel 121, on the Bloomberg Business App, Radio.com, the iHeartRadio app and at Bloomberg.com/audio. You can also watch Bloomberg Businessweek on YouTube - just search for Bloomberg Global News. Like us at Bloomberg Radio on Facebook and follow us on Twitter @carolmassar @timsteno and @BWSee omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.Business leaders, investors and academics have cheered Massachusetts Governor Maura Healey’s efforts to counter the Trump administration’s research funding cuts with state money — so much so that a recent meeting on the initiative required overflow seating. Healey, a Democrat, in July proposed funneling $400 million to institutions affected by the federal pullback. Half of the money in Healey’s proposal would come from revenue raised by the state’s millionaire’s tax and would be reserved for the University of Massachusetts and other public colleges, while the rest could go to hospitals and private schools such as Harvard University.She’s also seeking to establish a separate fund with contributions from philanthropists and private investors. The funds are meant to be a Band-Aid to help protect the universities and medical organizations that form the backbone of the Massachusetts economy. Healey sees the bill not only as a lifeline for life-saving therapies, but also as a way to retain the research talent that’s made Boston a global hub for the health-care industry.Today's show features interviews conducted during a special broadcast from Boston Children's Hospital: Bloomberg News Boston Money and Power Reporter Greg Ryan on a Massachusetts proposal to funnel $400 million to institutions affected by the federal pullback in research funding, Boston’s biotech real estate slump and other key regional issues Dr. Joan LaRovere, Chief Medical Officer of Boston Children’s Hospital, on why research and innovation are central priorities for the nation’s leading medical institutions Dr. Lissa Baird, Director of Neurosurgical Oncology and Co-director of the Brain Tumor Center at Boston Children’s Hospital, on leading one of the world’s most advanced pediatric neurosurgery programs Dr. Ellen Grant, Director of Fetal-Neonatal Neuroimaging and Developmental Science at Boston Children’s Hospital, on the unmet needs to help treat women’s neurological health issues from migraines to autoimmune disorders to perinatal mental wellness Dr. Martha Murray, Orthopedic Surgeon-in-Chief for Boston Children’s Hospital, on how she helped transform the treatment of ACL tears by pioneering an innovative, FDA-approved surgical procedure that promotes a more natural healing of ligament tears, an injury most common in teen girls and young women See omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.Bitcoin sank deeper below the $100,000 mark, dragged down by a fresh wave of risk aversion and a selloff in tech stocks that reignited Wall Street jitters.The digital currency fell as much as 3.9% to $97,956, intensifying a slump that’s wiped out more than $450 billion in value since early October. Once-reliable sources of support — including large investment funds, ETF allocators, and corporate treasuries — have stepped back, removing a key prop from this year’s rally and triggering a new phase of market fragility.Analysts at 10x Research say the crypto market has entered a confirmed bear regime. The firm cites weakening ETF flows, continuing selling by long-term holders, and muted participation from retail buyers. The firm’s models flagged the shift in mid-October and now point to deteriorating sentiment beneath the surface. The next key level is $93,000, according to 10x.Today's show features: Eric Trump, Co-Founder and Chief Strategy Officer of American Bitcoin, on his company’s business model and the regulatory environment for cryptocurrency Elizabeth Renter, Senior Economist at NerdWallet, on key economic data expectations as the US government reopens Bloomberg Intelligence Senior Media Analyst Geetha Ranganathan breaks down quarterly earnings from Disney See omnystudio.com/listener for privacy information.